04/06/2026
The fiat system......designed for the masses??
From David Stockman June 2026
For crying out loud. The fundamental function of the stock market is to raise new equity capital for aspiring businesses wishing to fund growth, new equipment, new technologies or new business operating models.
Yet for the last three decades the stock market has been an equity liquidation machine. That is, a place where the boys and girls who gamble down there could do so on higher and higher amounts of cheaper and cheaper leverage, knowing that share prices were backstopped by a massive and continuous bid from the companies that had issued them.
Needless to say, the stock market became inherently rigged by an SEC rules change in the early 1980 done in the name of “deregulation”. It created a “safe harbor” (Rule 10b-18) for companies to buyback their own shares without running the risk of being sued by the SEC or private litigants for stock price manipulation.
That’s the fiat system for ya!! And millions of contributors to their retirement plans rely on the US market for a part of their nest egg!!
Thank heavens I can contribute regularly to my funds in the debtless open crypto system.
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